To clarify / expand on the good answer of Chenmunka, Bowman, as the Star Child is no longer a physical entity. From the book:
He still needed, for a little while, this shell of matter as the focus
of his powers. His indestructible body was his mind's present image of
itself; and for all his powers, he knew that he was still a baby. So
he would remain until he had decided on a new form, or had passed
beyond the necessities of matter. He was back, precisely where he wished to be, in the space that men called real......confident once more, like a high diver who had regained his nerve, he launched himself across
the light-years......there before him, a glittering toy no Star-Child could resist, floated the planet Earth with
all its peoples.
So - yes, the imagery of the Star Child in the film is representative of Bowman's rebirth as a higher life form at the hands of the monolith.
FWIW - in my opinion, the book makes clearer much of the imagery of the film and I grew to appreciate the film even more after reading the companion text from Clarke.